I got a surprise from PayPal today. I had no idea that they needed extra verification of whether or not Recycling for Food really exists as a organization, and whether or not it is a tax-exmpt non-profit. Since the 501(c)(3) application has been sent, but has not yet been reviewed, I could only send them the information I had. They also wanted a copy of a bank statement for the organization, but we don't have one yet because the account was only opened this past Monday.
Hopefully the information and paperwork I did have will be good enough evidence for their needs. If not then there will be some restrictions placed on the account, but I am not sure what those restrictions are.
Showing posts with label bank. Show all posts
Showing posts with label bank. Show all posts
Wednesday, May 19, 2010
Monday, May 17, 2010
Bank Account Created
Stopped by M&I Bank today to set up a bank account. Everything went pretty well, and for non-profits there is no fee as long as there is a balance of $100 in the account. Pretty soon we'll be able to accept donations.
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